According to a recent Bloomberg report, Sony only sold about 270,000 PlayStation Virtual Reality 2 headsets between the end of March and the launch date of February 22. The data comes from the research company IDC, which blamed the poor unit sales on growing living expenses, rising borrowing rates, and increasing layoffs.
According to a Bloomberg report from the previous year, the company aimed to produce about 2 million units for the PlayStation Virtual Reality 2 launch window.
During a recent Morgan Stanley conference, Chief Financial Officer Hiroki Totoki stated that Sony is pretty optimistic about exceeding the approximately 5 million sales of the first PlayStation VR goggles for the period of the PlayStation Virtual Reality 2’s presence on the market. If the IDC’s predictions come true, Sony faces a challenging road ahead with its VR product.
Sony’s Plan For The PlayStation VR 2
Insider Gaming sources said earlier this month that Sony is presently working on the PlayStation 5 Pro, with a possible Christmas 2024 release date that might increase PSVR2 sales. Sources further disclosed that Sony expects a record FY23 for console unit sales of roughly 30.5 million units, nearly doubling its existing PlayStation 5 market.
“I suspect a price cut on the PSVR2 will be needed to avoid a complete disaster of their new product,” said Francisco Jeronimo, vice president of data and analytics at IDC.
The Challenges Faced By Sony
The board member of Sony must be back on the whiteboard, taking further steps required for the product to survive in the market. However, just cutting the price will not put a stop to the problems and boost sales. It is evident that the headset is a key component of Sony’s plan to create a metaverse where individuals can engage in activities other than gaming. The industry has made significant investments in hardware and software, but the conceptual 3D virtual worlds that led Mark Zuckerberg to rename his business Meta Platforms Inc. have not yet paid off.
Kenichiro Yoshida, president, and CEO of Sony made the metaverse a growth tentpole for the company, just like Meta has done, and the business’ in-house gaming studios have been creating VR-tailored titles to assist in the new headset’s quick launch that hasn’t happened.
Sony Vs Meta
According to a report this month, Meta’s more accessible and affordable Quest has sold over 20 million units so far, thus simply matching the performance of the previous device would not consider a success.
Another challenge is the economic crisis. With the prices rising and the mass layoff in big companies, buying a VR headset is less preferable for people. Taking this under consideration Francisco Jeronimo, vice president of data and analytics at IDC, stated that “Consumers around the world are facing rising costs of living, rising interest rates and rising layoffs,”
According to Chief Financial Officer Hiroki Totoki, “VR headsets are not top of mind for most consumers under the current economic climate,” but Sony is reasonably confident about exceeding the 5 million sales of the original PlayStation VR goggles over the course of the PlayStation Virtual Reality 2’s lifetime on the market.
Let’s take a look at one of the major drawbacks of the PlayStation VR 2. The PlayStation Virtual Reality 2 costs $549 and requires a PlayStation 5 console to use. All of this combines a big shot on the pockets. Looking at the time the world is going through. Anyone would think twice before spending big bucks on the console and the headset. Furthermore, another thing is the competition when you have a better headset that is also affordable.
It will be interesting to see how Sony plans to make the headset ahead keeping their vision in consideration. What do you think Sony should do in this condition? According to Zuckerberg, Meta would reduce investments as part of a “year of efficiency.” According to reports, Walt Disney Co. removed the section responsible for creating its metaverse plans this week as part of a larger restructuring. Should Sony do the same? Do tell us your thoughts in the comment section below.
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